A consortium of banks, Santander Bank Polska and Helaba (Landesbank Hessen-Thüringen), has granted AFI a €120 million loan to refinance four PRS projects under the AFI Home brand in Warsaw, Kraków, and Wrocław. This is one of the largest PRS financing transactions in Poland to date.
The financing granted by the consortium of banks Santander Bank Polska (Funding Agent and Security Agent) and Helaba covers AFI Home Metro Szwedzka and AFI Home Metro Zachód projects in Warsaw, AFI Home Czyżewskiego in Kraków, and AFI Home Długa in Wrocław. These well-connected buildings include a total of 1,431 fully equipped units and offer comprehensive accommodation services.
"Our strategy is to grow the PRS portfolio across Central and Eastern Europe. Currently, AFI Home has secured a pipeline of more than 5,600 units, of which half are fully operational assets. At AFI, we see significant long-term growth potential in this market. With stable financing, we can execute our expansion strategy while responding to the increasing housing needs in the region's largest cities”, commented Anat Dafna, CFO of AFI Group.
Under the AFI Home brand, 13 fully furnished and operational projects are currently active in Poland, the Czech Republic, and Serbia. By the end of the year, AFI Home expects to complete the construction and fitting out of more than 650 additional PRS units – approx. 520 of them in Poland.
“Santander Bank is delighted to partner with AFI Home in our role as co-financer, facility/security Agent and account Bank in this rapidly developing and essential sector. Thank you for your trust and partnership”, said Brendan Long, Managing Director in Real Estate Property Department in Santander Bank Polska S.A..
“We are very happy to support our longstanding client AFI with a portfolio financing for this landmark transaction underlining the strength of the Polish PRS market”, said Georg Blaschke, Head of Real Estate Finance CEE at Helaba.
„This financing confirms AFI Home's reputation as a key player in the PRS market. We are pleased to see continued trust from leasing financial institutions in our high-quality assets. This support allows us to further professionalize and scale our business in response to market demand from both investors and customers. The granted loan is also a significant step towards future growth and new project developments”, commented Grzegorz Jakubowski, CFO AFI Poland.
In the transaction, AFI was advised by CMS, while the consortium of banks was supported by DLA Piper.
